Grand Cayman, Cayman Islands, February twenty first, 2024, Chainwire
Citrea is the primary rollup that enhances the capabilities of Bitcoin blockspace with zero data expertise, enabling builders to construct every part on Bitcoin.
Citrea is thrilled to announce $2.7M in seed funding, led by Galaxy, with the participation from notable buyers reminiscent of Delphi Ventures, Eric Wall (Co-Founder, Taproot Wizards), Anurag Arjun (Co-Founder, Avail), BatuX (ex-Binance), Igor Barinov (Founder, Blockscout), and James Parillo (Managing Companion, Figment Capital) amongst others. The spherical was closed in late 2023. This strategic funding underscores a collective perception in Citrea’s mission to construct a programmable liquidity layer on high of probably the most safe and decentralized blockchain, Bitcoin.
Citrea is the primary rollup that enhances the capabilities of Bitcoin blockspace with zero-knowledge expertise. Each transaction occurring on Citrea is totally secured by zero-knowledge proofs and optimistically verified on Bitcoin. This distinctive building provides Citrea the next options;
- Bitcoin as App Bedrock
- Bitcoin Settlement and Belief Minimized Two-Method Peg
- EVM Equal Execution Atmosphere
“For the first time in the Bitcoin scalability landscape, Bitcoin serves as both a data availability and settlement layer.” said Orkun Mahir Kilic, CEO of Chainway Labs, the company building Citrea. “This unique approach enables us to build an infrastructure to support a wide range of applications with full Bitcoin security.”
Citrea’s journey back to 2023, starting with the ZK experiments on Bitcoin by Chainway Labs. Since then, Citrea evolved to a much larger vision of establishing Bitcoin as the foundation for the world’s finance.
“Bitcoin has largely been understood as a monetary phenomenon to date, with some exceptions in its early history. However, it is also one of the most powerful economic and computation platforms in existence. Chainway’s development of the Citrea ZK Rollup should be an exciting next stage in extending the functionality of Bitcoin as a platform.” stated Will Nuelle, Normal Companion of Galaxy’s Enterprise arm.
About Citrea
Citrea is the primary rollup that enhances the capabilities of Bitcoin blockspace with zero-knowledge expertise, making it doable to construct every part on Bitcoin.
For extra info, customers can go to: https://citrea.xyz/
Citrea Docs: https://docs.citrea.xyz
Citrea
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